The Essential Home Repairs Program is designed to assist eligible Arvada homeowners with repairs and energy saving improvements to their home. It provides loans as well as supervision to assure the work is performed to specified standards by qualified contractors.
What Kind of Home Repairs Qualify?
The work which may be eligible under this program includes, but is not limited to:
|Kitchen & Bath Repairs||Sewer Line Replacement||Doors & Storm Doors|
|Lead Hazard Controls||Insulation: Walls & Attic||Exterior Drainage|
What Requirements are needed to Participate?
Your eligibility will be determined on the basis of the following factors:
- Your home must be a single-family residential structure located in the City of Arvada.
- You must own or be buying your home.
- You must live in your home as the primary residence.
- Your annual family income cannot exceed a specific income (Listed below).
- You must meet bank requirements regarding credit worthiness and financial condition for the 0%, 3%, and Prime Rate Loans.
What Types of Financial Assistance are Available?
Below are the Loans available. The maximum amount of assistance provided is up to $30,000.
2016 Income Guidelines
$458,850 Limit on property value ♦ Average
|Household Size||FORGIVABLE LOAN||DEFERRED LOAN||0% INTEREST BANK LOAN||3% INTEREST BANK LOAN||PRIME RATE LOAN|
|*Available for income qualified elderly and disabled ONLY.||*Available for Low Income Households.||The amount borrowed (principal) is all you repay within 10 years.||The amount borrowed plus 3% annual interest.||No financial assistance. The interest rate charged is the current prime rate.|
|No repayment is required if you reside in your home for 10 years from the time the forgivable loan is signed.||Loan must be paid back to the City when the house is sold, any transfer of title, or when unit becomes a rental property.|
|(50% AMI )||(50% AMI )||(67% AMI )||(80% AMI )||(130% AMI )|
For more information and or to get on the wait list you can contact:
Hours of Operation: Monday through Friday 8:00 A.M. to 5:00 P.M.